Opendoor Technologies Inc. (OPEN) is experiencing a significant decline in its stock price today, which may be attributed to a combination of factors. A notable decrease in short interest, down 16.50% from the previous month to 72.04 million shares, suggests a shift in market sentiment. Despite this reduction, the short interest ratio remains at 2.0 days to cover, indicating that short sellers still hold a substantial position in the stock. This dynamic could be contributing to the downward pressure as investors reassess their positions.
Additionally, Opendoor Technologies has been one of the most actively traded stocks today, with a trading volume of 41,121,581 shares, surpassing its average volume of 36,228,726 shares. This heightened activity, representing 113.51% of the average, suggests increased investor interest and potential volatility. As of 1:10 PM on December 2, the stock is down 12.82% to $2.04, after opening at $2.34 and reaching a low of $2.04.